China Eastern Airlines agrees to buy $8bn Boeing 737 aircraft

China Eastern Airlines has committed to purchasing 80 Boeing 737 aircraft, worth more than $8bn at list prices.

When finalised, the order will become the country’s largest-ever purchase by an airline for single-aisle aircraft.

Boeing Commercial Airplanes North East Asia sales and marketing vice-president Ihssane Mounir said: "We share an enduring partnership with China Eastern and we are excited to see that the 737 family of airplanes will play an important role in their continued success."

According to a report in the Wall Street Journal, the carrier is purchasing 60 of the 737 Max aircraft, equipped new engines, and 20 current model 737 jets. Deliveries are expected to begin from 2016.

The development comes nearly two months after the Chinese airline signed an agreement with Airbus to purchase 70 A320neo aircraft, worth $6.37bn, as the airline plans to increase the capacity.

Airlines in China are expanding their networks to tackle the rapid growth in the country’s air-travel demand.

According to Boeing forecasts, Chinese airlines will receive 5,580 new aircraft in the coming 20 years. The market is valued at nearly $780bn over the period.

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Image: China Eastern Airlines Boeing 737-700. Photo: courtesy of Boeing Dreamscape.